The report segments the global bubble tea market based on base ingredient, flavors, component, and region. Global Opportunity Analysis and Industry Forecast, 20202027. The Straits Times, p. 73. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. statistic alerts) please log in with your personal account. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. By region, North America was the most prominent regional market in 2019. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! The Straits Times, p. 15. Ho, M., & Boey, D. (2001, June 29). Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Request a Free sample to learn more about this report. We dont recommend anyone making it a daily indulgence. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. The bubbles are made from tapioca and have high carbohydrate content. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. The market is expected to grow at a CAGR of 7.51%, during the forecast period. The Straits Times, p. 73. Lek, E. (2007, August 20). Learn more about how Statista can support your business. The boba (bubble) alone is 150 calories. The high carbohydrate content of the bubbles can lead to an unhealthy diet. Customers also have the option of adjusting the drinks sugar level. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. Over of the bubble tea enjoyed around the world is fruit-flavored. Bubble tea originates from Taichung, Taiwan. Teens use tea house notice board to talk to each other, AVA suspends two more Taiwanese juice brands, Unapproved additive found in 11 food products, Pearls dropped by some bubble tea shops. SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar new tea drinks, with Singapore having the highest spending power despite its smallest population among the region's six key markets. This is a very good piece of work and will be very helpful to us going forward. Which region held the highest share in the global market? https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. Please create an employee account to be able to mark statistics as favorites. Brands are also providing more health-conscious options to cater to customers, through customisable sugar levels and healthier" alternatives like brewed fresh fruit tea. 6. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Bubble tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. In a survey of Singaporean bubble tea consumers in 2020, 69 percent of respondents stated that taste was their main consideration when purchasing bubble tea, while 61 percent stated price. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. Singapore: bubble tea outlets by brand 2019 | Statista Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. In some instances, a hot version of the tea is also available. Far from game over: From boom to bust to boom again, bubble tea is back The data offered to us was exactly what we were looking for. Singapore: bubble tea consideration factors 2020 | Statista Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. However, it added that the supply chain for bubble tea stores can be more challenging than e-commerce due to the high demand for the freshness of raw materials. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. Fortune Business Insights says that the global market size was USD 2.29 billion in 2022 and is projected to reach USD 4.08 billion by 2030. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. Get detailed COVID-19 impact analysis on the Bubble Tea Market. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. The Best Bubble Tea Brands In Singapore Profit from the additional features of your individual account. At this point in time, bubble tea was served in a cocktail glass,3 and customers drank the beverage sitting down in cafes or bubble tea huts.4 Bubble Tea Garden, in particular, served flavours such as Pearl Red Bubble Tea, Yam Shake, Honey Egg Yolk, Whisky Red Tea and Honey Peppermint.5 It attracted many students, largely Chinese-speaking and who came in groups, partly because it had a message board for customers to express their thoughts and communicate with one another.6Food fadAlthough bubble tea was well received, notably among the youth, when it was first introduced, it was only in 2001 that it became phenomenally popular. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. These pearls, that looks like dark bubbles, give the tea its name. ", DBS Group Research, Number of bubble tea outlets in Singapore in 2019, by brand Statista, https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/ (last visited May 01, 2023), Number of bubble tea outlets in Singapore in 2019, by brand [Graph], DBS Group Research, October 22, 2019. Chart. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. Bubble tea was introduced to Singapore in 1992. . It comes with the additional cost of $2500.00 contact sales. Retrieved from NewspaperSG.14. But did you know that there are six different types of bubble tea? Of the 30 countries that enjoy bubble tea, most are in Asia. "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Retrieved from NewspaperSG.2. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. 16 Bubble Tea Statistics to Calm Your Cravings - Soocial IN FOCUS: Singapore's love affair with bubble tea - CNA Chart. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. Sometimes they are blended with ice to give them a more slushy-like consistency. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. Asia Pacific is expected to dominate the market during the forecast period. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. 13. 15. Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. In addition, recently many Chinese brands have entered the region, it added. under and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. In 2018, there were over 450,000 shops selling bubble tea in China. Southeast Asia's bubble tea craze | The ASEAN Post 16. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. It is already known that sugary drinks contribute to weight gain, obesity and other diseases such as diabetes, heart disease, stroke and cancer. (February 11, 2020). In 1987, a staff member had the idea of adding fen yuan (sweetened tapioca pudding) to her tea, resulting in the creation of the bubble tea pearl.2Introduction in SingaporeBubble tea was introduced to Singapore in 1992. Storm in a bubble-tea cup. Currently, you are using a shared account. South America is anticipated to grow in terms of sales volume of the products in the coming years. The peak of the fad was from March to October 2001, when shops reportedly sold as many as 800 to 1,000 cups a day.7 Major chains included Cool Station, Quickly and Milk Girl Ice Cup.8However, the drinks popularity also contributed to its downfall. How Much Is the Bubble Tea Industry Worth. 2. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . Retrieved from NewspaperSG.15. We use cookies to enhance your experience. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. This beverage has undergone a few waves of popularity in Singapore. Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Another draw is the foamed tea. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. The bubble tea industry is expected to reach $3.39 billion by 2027. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. The chocolate segment is projected to have the fastest growth in the coming years due to increasing demand for chocolate-based drinks from every age group. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. In the next five years, the bubble tea industry is expected to grow by nearly 54%. Prices are higher than previously, reaching as much as S$6 per cup as compared to S$3 in the past.12 Nevertheless, bubble tea shops have attempted to sustain the popularity of the drink by continually developing new and unusual flavours, as well as engaging with customers through social media.Health concernsIn May 2011, it was found that two fruit juice brands from Taiwan used by some bubble tea outlets contained plasticisers that were harmful to health. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Expanding Range of Products to Target Younger Individuals to Boost Growth. Accessed May 01, 2023. https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Nielsen. The appearance of the finished drink is what led to its name. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. Retrieved from NewspaperSG.6. October 22, 2019. But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. Lin Hsiu Hui created the first bubble tea in Chun Shui Tang, a tea shop i | Since its early beginnings in the 1980s, the trend of bubble tea has spread from Asia to America and Europe, and new companies are continually joining the bubble tea revolution. Bubble Tea Market Demand to Surge with Rising Popularity of Bubble tea | Infopedia - National Library Board Here is the history of bubble tea in Singapore. This can be attributed to change in preference of consumers toward healthy beverages and better taste. Arlina Arshad. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. The pandemic served as a natural selection process as many stores shut down. Statista. Followed by Asia Pacific, the North America bubble tea market share emerged to be the second-largest and is likely to maintain its position throughout the forecast period. 5. Retrieved from http://chunshuitang.com.tw/3. The beverage is now considered a mainstay due to its unique formulation. Bubble tea is known for its sweet taste. About | Privacy Policy |Contact | Advertise | Support. Countries such as Vietnam and Taiwan are projected to have the largest sales. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. Despite the burgeoning demand for such innovative tea beverages, the wide availability of other caffeinated and conventional drinks, such as coffee and chocolate, coupled with the prominent coffee consumption trends in Western countries, poses a threat to market growth. Consuming Singapore: The obsession with bubble tea Retrieved from NewspaperSG.5. "The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent," the release said. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. A bubble tea. (October 22, 2019). Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. 4. The Straits Times, p. 8. Who are the leading players in the global market? Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. A. Subject (2002, January 13). Ho, M., & Boey, D. (2001, June 29). (AFP Photo). "Number of Bubble Tea Outlets in Singapore in 2019, by Brand. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. Unapproved additive found in 11 food products. . All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. Number of bubble tea outlets in Singapore in 2019, by. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite! Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore Previously, tea was usually served hot, so it was considered a novel idea to cool the tea with ice and mix it with various ingredients. However, the drinks popularity also contributed to its downfall. Durai, J., & Poon, C. H. (2011, June 4). The forecast period in the global bubble tea market report is 2019-2027. Tapioca balls or pearls are often added to the concoction as well. This was attributed due to rise in the consumption of tea based everages across the world. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. Bubble tea is a popular drink among Singaporeans, and consists of a sweet flavored tea base and tapioca pearls, or "bubbles".
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